Saturday, 17 May 2014

Dr. Paul Craig Roberts: Fed Laundering Treasury Bonds in Belgium, Real GDP was Negative & More

On the steep drop in GDP growth of a paltry .1% in the first quarter, Dr. Paul Craig Roberts says, "What I find most amusing about this is they had to claim some real growth in the first quarter; so, they eked out .1%. Now we know they got that by rigging the inflation number they used to deflate the gross domestic product (GDP). The real GDP in the first quarter, properly deflated, was negative and probably also in the fourth quarter. Most likely, this coming quarter, they are not going to be able to hide the fact that it is negative. . . . I am convinced the first quarter was negative, and I don't see how it could possibly go positive in the second quarter."

On Fed Head Janet Yellen's rosy outlook on the economy, Dr. Roberts, who holds a PhD in economics, debates, "I don't see how she can see that the economy is going to start growing. What is going to make it grow? Why should investors invest money when consumers don't have any money? There are not retail sales. I think it is just part of the rah, rah talk. Everywhere else in the world is going down the tube. So, what's going to push the American economy up?--Nothing that I know of."

Join Greg Hunter of as he goes One-on-One with former Assistant Treasury Secretary Dr. Paul Craig Roberts.

Roberts also talks about the crisis in Ukraine and how the US wants to keep it festering in order to restart an new Cold War, or at least increase military build-ups in the region.

Related News:

Jobs for the boys: Biden's son signs for Ukraine gas giant

[Posted at the SpookyWeather blog, May 17th, 2014.]

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